National Storage REIT launches share purchase plan to reduce debt

Australian Securities Exchange (ASX)-listed self-storage properties operator, National Storage REIT, has launched a security purchase plan (SPP) that seeks to raise up to AUD15 million (USD11.7 million).

The SPP allows existing unitholders of the REIT to contribute up to AUD15,000 in applying for fully paid ordinary stapled securities, comprising of one unit in National Storage REIT and a share in National Storage Holdings Limited.

The purchase plan follows the REIT's placement of stapled securities to institutional investors that was announced in December 2017, and subsequently raised AUD50 million.

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